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Sources: Bulls mulling trading Carlos Boozer for Andrea Bargnani

The Chicago Bulls and Toronto Raptors have engaged in exploratory trade discussions on a deal that would swap the Bulls' Carlos Boozer for the Raptors' Andrea Bargnani, according to sources familiar with the discussions.

Other players with smaller contracts would have to be added to the deal to make the salary-cap math work should talks indeed progress to a more serious level. But sources told ESPN.com on Thursday that both teams have considered the move.

From Chicago's perspective, sources said, Bargnani's arrival could help address its glaring lack of 3-point shooting and brighten the overall look of its payroll, given that the Italian forward makes $5 million less than Boozer this season.

Despite his well-chronicled defensive deficiencies, Bargnani would figure to be an effective pick-and-roll partner for Derrick Rose once the point guard makes his expected return from knee surgery after the All-Star break.

The biggest impediment to such a trade, sources said, is believed to be whether Toronto can realistically afford having both Rudy Gay and Boozer on its payroll beyond this season.

The Raptors, who acquired Gay from Memphis last week, have been openly shopping Bargnani, who resumed the most disappointing season of his career Wednesday night after missing 26 games with an elbow injury.

Although Toronto's desire to upgrade its front line is an open secret -- as confirmed by its long-running interest in trading for the Los Angeles Lakers' Pau Gasol before the forward's foot injury this week -- it's believed the luxury-tax implications of trading for Boozer ultimately could dissuade the Raptors from such a deal, even if Chicago proved willing.

Raptors president Bryan Colangelo told local reporters after the Gay trade that the team was prepared to stray into luxury-tax territory for the "right transaction." It remains to be seen whether a deal for Boozer qualifies.

It has long been assumed around the league that the Bulls might consider releasing Boozer through the NBA's one-time amnesty provision at season's end. But Boozer has tuned out such talk to be one of Chicago's most productive players this season, rallying from a so-so start to average 19.5 points and 10.1 rebounds per game in January.

The NBA's annual trade deadline is Feb. 21, and the Raptors are known to be actively searching for a new home for Bargnani, who was selected with the No. 1 overall pick in the 2006 draft but has gradually fallen out of favor with Raptors fans after Toronto's four consecutive seasons out of the playoffs.

Boozer is good but against some players he can't get it done at his position. In the playoffs sometimes all it takes is one bad matchup for a key player to get bounced. However, I think the Bulls have been over achievers the past couple seasons. Im not sure how many points a Bargnani and Noah front court can produce.

Bulls don't need a big guy on the perimeter especially one that doesn't play much defense. One of the only things the Bulls got going for them offensively is that they have great interior passing. I don't think Bargnani is a good fit at all. I'd rather have an aging Gasol.

The Bulls want to shed Boozer's salary and that's the only reason they are thinking about this. MAKE IT HAPPEN. I heard it might take place as soon as this weekend with another point guard being a part of the package and Landry Fields going the other way to match salaries. The Raptors will look mighty good for the next couple of years if this happens.

I'm now cheering for the Raptors as I'm a rudy gay fan and want his team to do well. That's decent starting 5, however if they can pick up a nice 6th man, they'll be in business.

The bench is rounding in to form and the only player struggling since the Gay trade is Allen Anderson who clearly needs minutes to produce. I can see him being traded since the Bulls seem to get the best out of their role players and that's exactly what Anderson is.

The Raptors have some diversirt coming off the bench with scorers in Ross and Bargnani and some size with Gray, but what about the likes of Pietrus who hasn't seen the court in over 10 games?